Carina Puello Álvarez – GC Powerlist
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Puerto Rico 2023

Healthcare

Carina Puello Álvarez

Chief compliance officer and general counsel | PRICH Biotech

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Puerto Rico 2023

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Carina Puello Álvarez

Chief compliance officer and general counsel | PRICH Biotech

Team size: Four 

Major legal advisers: McConnell Valdes, Miramar Group

 

What is the number one challenge that has impacted you over the past year? 

With an overly saturated market, operation optimisation and restructuring, urgent changes to our procedures, practices, and policies were imminent. Our team was tasked with standardising our company’s compliance and legal structure to achieve a compliant operation with internal controls on corporate governance, as well as operational modules that respond to constant regulatory interpretations has been the number one challenge over the past year. This included store closures, operation restructuring, employee layoffs, all at the same time and with duly legal reassurance from our department. Even though our company had a reduced headcount of over 30% over the past year, we’ve been fortunate to retain a team willing to support these changes and insert themselves into a complex and fast-moving operation.  

The key factor for this to be a challenge was the fact that our products and services would not be affected. We’re still catering to patients that rely on good quality products and services and knowing that we get to do something in our industry that helps someone is a great reminder of what we’re set out to accomplish. Every day is different and full of opportunities to challenge ourselves, serving as an example to younger generations of women who wish to reach significant roles in different and innovative industries.  

   

Could you share an example of a time when you came up with an innovation that improved how your legal team works and did not come at a large expense?  

When it comes to strategy and innovation, it’s not enough to seek what’s new in the industry. One must always listen to the things that will make your team’s workload easier to manage. In this sense, implementing key business intelligence tools that have standardised the way we manage information and auditing has proven to be a step towards innovating antiquated practices.  

While maintaining a low cost and increasing productivity and quick response times to the administrative and operational areas of the company, we’ve managed to achieve quick response times and risk mitigation. These changes have ranged from automating reporting, reducing our paper footprint, augmenting access to documents and archives, standardizing data management, and validating accurate and timely compliance with governmental requisites.  

   

What would you say are the unique qualities required to be successful as an in-house lawyer in your industry?  

First, having an open mind and thinking outside the box while implementing the best practices and comparable local and federal regulations for similar industries, from agriculture and manufacturing to health-industry standards and retail operations are key qualities for venturing this industry.  

Also, trust. To achieve something, you need to trust in yourself, trust the process even when faced with roadblocks and obscure regulations, and trust in your team. When you’re doing good and your goal is honourable, you’ll make a difference and learn in the process.  

Finally, one must consider this in terms of what it means to our patients and what it means to break barriers in the legal arena and compliance standpoints, regardless of the stigma the industry has been faced with. One should not be afraid to jump into a new industry with abstract regulation and policy and to be a leader in a legal and compliance field that continues to grow and change every day. 

 

 

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